IFRS Foundation constituted an IAS 39 Implementation Guidance Committee (IGC) to address the difficult implementation issues. In response to the global financial crisis, the IASB has embarked upon a number of projects that will ultimately amend the existing accounting standards on financial instruments. This chapter discusses the overall requirements of IAS 32 and 39, and IFRS 7. It presents detailed examples on a range of topics involving cash and receivables (e.g., the accounting for factored receivables) that are derived from the most widespread and venerable practices in these areas, even if not codified in the IAS. Other information refers to financial instruments is based on IAS 39 and not IFRS 9. The IASB published the ED Derecognition: Proposed Amendments to IAS 39 and IFRS 7 in March 2009, proposing to replace the existing guidance on derecognition of financial assets and financial liabilities and the related disclosures.